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It is the same difference as Engineering form IIT and engineering from any local sate college IIMs are one of best and well known in World for management education you cannot compare IIMs MBA with any other university yes there are few which come into same line like FMS,XLRI,ISB etc but IIMS are far ahead from them for more information regrading MBA you can visit the following link

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Q: What is the difference between MBA from a university and an MBA from Indian Institute of Management?
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